Union Budget 2014-15: The Pros and Cons

BANGALORE: The most awaited day has finally come with the presentation of the budget by FM Arun Jaitley. The proposed gift for businesses, the load bearer for common man, a weapon against corruption, a tool to revive a dying economy and a better economic life for the people of India was the expectation of budget 2014. The budget has answered some prayers, shunned out others and has rout outrage from various political camps.

Mehul Lanvers Shah, Managing Director, HMFI India said, “The new government’s budget bodes well for Indian Industry as it encourages local manufacturing, entrepreneurship and transparent governance to create an investor friendly, stable tax regime with retrospective decisions scrutinized by a high level committee.” The budget surely has touched to benefit all the areas of life.

A nation wide perspective has been taken into account with the effort to develop better NHs for which 37,887 crores has been set aside and separately 3000 crores has been assigned for the development of roads in the north east region particularly.

The government is committed to providing 24/7 power supply. It has also proposed and assigned 7060 crores for the development of small smart cities. “Urbanization and development of urban infrastructure through smart cities has also found significant mention and over 7000 crore is being allocated for the development of 100 smart cities across the country - this is a huge opportunity for the Indian IT industry to partner with the government in this initiative,” said Mehul Lanvers Shah, Managing Director, HMFI India .